NZD/USD: bulls stumbled across pin-bar

NZD/USD: bulls stumbled across pin-bar

Recommendation: BUY 0,7045 SL 0,6990 TP1 0,715 TP2 0,723. 

On the NZD/USD daily chart, bulls hit an intermediate target 127.2% of the Deep Shark pattern. Then, there was a rollback. The formation of a pin-bar with a long shadow increases the risks for the development of the correction.

On the NZD/USD hourly chart, the "Bump and Run Reversal" and "Shark" patterns were realized. Until the Bears did not test the diagonal support of the introductory stage of the former pattern, the "bulls" retain control over the pair. Rebound from the target 88.6% in the Shark pattern will allow buyers to launch a counterattack.


USD/JPY: the Bulls don’t want to give up

Expanding bearish Ichimoku Cloud with falling Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but narrowing channel of Tenkan-Kijun; the market is breaking out the resistance of Tenkan-sen and Kijun-sen.

AUD/USD: market is oversold

Bearish Ichimoku Cloud with falling Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen with falling Tenkan-sen; the market is oversold and aussie may go to Tenkan-sen in correctional movement.



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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